SteelOrbis has been informed that as of July 16 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to July 9.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
During the given week, nickel prices have seen slight decreases. Stainless steel producers in the Chinese domestic market have planned to reduce outputs, which will bolster prices to a certain degree. However, the hot weather will likely weaken the demand for stainless steel, which will exert a negative impact on prices. It is thought that stainless steel prices in the Chinese domestic market will likely edge down in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,965/mt ($1,959/mt) on Tuesday, July 16, decreasing by RMB 45/mt ($6.3/mt) or 0.32 percent compared to July 9, while up 0.47 percent compared to the previous trading day, July 15.
$1 = RMB 7.1328
